Normal Is Broke and in Debt. Do You Want To Be Normal?

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 30 January 2025

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

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Summary

📈 Are you on track with the Baby Steps? Get a Free Personalized Plan Ken Coleman & George Kamel answer your questions and discuss: "Is it too late to save for retirement at 60?" "I can't contribute enough to our wedding fund," "Have you changed your stance on bitcoin?" "We are being forced into a consolidation loan," "Should I wait for home prices to go down?" "Is it better to invest in a target date index fund that will adjust risk as I age?" Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp ◎ Get 10% off Byrna product bundles and more! 🏥 Learn more about Christian Healthcare Ministries 🏡 Get started today with Churchill Mortgage 🔒 Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! 🥗 Save 15% on your first Field of Greens order with code RAMSEY 💸 Learn more about opening a high-yield savings account with Laurel Road 💻 Visit NetSuite today to learn more 🗂️ Use promo code RAMSEY for 18% off at The Nokbox 💵 Learn more about Timothy Plan 🏛 Get started with YRefy or call 844-2-RAMSEY 🔐 Visit Zander Insurance for your free instant quote today! Next Steps 📱 Watch the full episode for free in the Ramsey Network app. 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us an email. 💼 Need help with your taxes? See who we trust. 💪 Invest with confidence! Get tickets to Investing Essentials 💵 Start your free budget today. Download the EveryDollar app! 🪑 Check out Front Row Seat with Ken Coleman! 🏘️ Free Tools & Resources to Reach Your Home Goals Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💸 The Ramsey Show Highlights 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	Welcome to the Ramsey show where we help you win in your life, specifically with your money, with your work,
0:24.0	and in your relationships.
0:26.3	Alongside George Campbell, I'm Ken Coleman.
0:28.7	Thrilled to be with you guys today, AAA 825-5-2-2-25 is the number to jump in.
0:35.4	AAA 825-5-2-2-25.
0:39.5	All right, let's start it off with Amy in Minneapolis.
0:42.5	Amy, how can we help?
0:45.5	Well, I am turning 61 in two weeks.
0:50.1	All right.
0:50.6	That sounds exciting, early birthday.
0:53.8	And I have been good with my money all along, but I have failed to have a retirement fund.
1:01.3	And I'm wondering at this point what I can do so that I can retire maybe at 67.
1:08.0	All right. Oh, okay. So we're working with six years to retire, and you have zero.
1:17.0	George is going to walk you through this, but just a couple quick questions. You have zero,
1:20.0	or you have very little? What's the real, real here? I have no retirement fund, but I do have, I have cash and I have no
1:30.2	real debt. The only debt I have is about $9,000 that I took out a zero percent interest
1:39.2	loan and did some updates on my house. Okay. Sure sounds like real debt to me.
1:45.6	Well, yeah, that, but other than that, I have no debt.
1:48.9	What kind of cash do you have?
1:51.6	About $200,000.
1:53.4	And what's that sitting in?
1:57.1	A couple of bank accounts.
	...

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